Poll: IRA Savers Confident About Retirement

January 13, 2004 (PLANSPONSOR.com) - Buoyed by the 2003 market turnaround, the majority of Americans (61%) get all warm and fuzzy when they think about their current efforts to set aside money for their retirement, according to a new survey.

In fact, more than nine out of 10 regular IRA savers report that their IRA contribution for the 2003 tax year will either go up or stay the same. Of that group, 62% said their payment would stay the same while 32% said it would increase.

More than half (56%) of all retirement savers and IRA owners recognize that missing one year of contributing $3,000 is going to take a chunk out of their retirement savings and recognize what financial planners have been preaching for a long time: regular retirement contributions are the way to go, the survey found. So three out of four (78%) are confident that their current investments will provide solid returns for their retirement.

The telephone survey was conducted for Fidelity Investments by Opinion Research Corporation International among of 606 American household financial decision-makers who are saving for retirement. Interviews were completed between December 19 to 22, 2003.